United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund
- Assets
- $28.8m
- Revenue
- $96.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Clifton, NJ
- Founding
- 11/1970
- Data as of
- 09/2023
- EIN
- 22-6137317
Organization Overview
United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund is located in Clifton, NJ. The organization was established in 1970. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund generated $96.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $93.0m during the year ending 09/2023. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOSPITAL, MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUG, VISION, LIFE INSURANCE AND OTHER MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOSPITAL, MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUG, VISION, LIFE INSURANCE AND OTHER MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Durning Employer Trustee | Trustee | 5 | $0 |
Michael Demartino Union Trustee | Trustee | 5 | $0 |
Harvey Whille Chairman, Union Trustee | Trustee | 5 | $0 |
Thomas Whille Union Trustee | Trustee | 5 | $0 |
Rachel Caruso Employer Trustee | Trustee | 5 | $0 |
Alex Voitovich Employer Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Healthcare Services Inc Claims Administrator | 9/29/23 | $2,761,212 |
Frank M Vaccaro & Associates Inc Third-party Administrator | 9/29/23 | $267,399 |
Horizon Healthcare Dental Services Claims Administrator | 9/29/23 | $299,227 |
Express Scripts Claims Administrator | 9/29/23 | $216,902 |
Beacon Health Options Claims Administrator | 9/29/23 | $121,492 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $94,914,987 |
| Investment income | $553,614 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $514,273 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,982,874 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $90,997,328 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $624,602 |
| Pension plan accruals and contributions | $43,839 |
| Other employee benefits | $162,291 |
| Payroll taxes | $52,674 |
| Fees for services: Management | $249,932 |
| Fees for services: Legal | $83,270 |
| Fees for services: Accounting | $62,886 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,463 |
| Fees for services: Other | $145,678 |
| Advertising and promotion | $0 |
| Office expenses | $157,053 |
| Information technology | $232,511 |
| Royalties | $0 |
| Occupancy | $46,319 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,019 |
| Interest | $0 |
| Payments to affiliates | $1,481 |
| Depreciation, depletion, and amortization | $2,297 |
| Insurance | $35,723 |
| All other expenses | $37,455 |
| Total functional expenses | $92,953,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,977,349 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,966,117 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,330 |
| Net Land, buildings, and equipment | $3,228 |
| Investments—publicly traded securities | $15,669,737 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,128,444 |
| Total assets | $28,768,405 |
| Accounts payable and accrued expenses | $1,808,472 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $306,524 |
| Total liabilities | $2,114,996 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $26,653,409 |
| Total liabilities and net assets/fund balances | $28,768,405 |